Definitive Guide to the Customer Centric

Get Mark’s Definitive Guide to the Customer Centric approach to Business

Learn about how customer centric business developed and what the benefits are, along with a description of the Five Tenets, the Nine Imperatives for Leaders and do a self-assessment to work out where to start with your transition..!

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Speaking

CMO Momentum

I was asked to speak at the CMO Momentum one day event in Sydney 20 July (CMO = Chief Marketing Officer). Customer centric was definitely a theme of the event. After a breif disucssion on the Customer Centric approach to Business, I presented on “Making KPIs meaningful” particularly in customer and marketing areas, which is really about defining the results you want to achieve, and measuring those outcomes.

“We are all grappling with change in customer behaviour, in technology, in regulatory and climate – at every single touch point. But with that comes a hypothesis: As a large company, can we adapt and be resilient, or are we on a slippery slope to oblivion?”

“How can we enable our organisation to be resilient to change and how can we adapt, particularly, if you’ve been in business for a long time… this should be the number one thing boards need to think about.”

“…it’s the customer-centric businesses that can operate more like digital platforms that will ultimately survive.”

As an example of this last point, Reinke described the customer’s journey in buying a new home. Typically, Suncorp would seek to help that customer with a home loan, insurance and maybe some financial planning. But as a digital platform, why not help the customer find their new home, why not use Suncorp’s network of approved repairers to do property inspections, or even conveyancing.

Adding value to your customer’s journey across the entire journey – not just the bits we have an interest in…

One great story delivered by Gavin Merriman was that of Nude by Nature. From a data and analytics exercise they discovered two distinct types of customer. One group that valued the products based on the “cruelty free” value; the second group didn’t care so much about this message but loved the product for what it was. This allowed Nude by Nature to communicate with the two groups, based on what they valued. People buy based on our emotions, and what we value drives those emotions.

By the way, Nude by Nature have an Net Promoter Score of 73. Understanding what your customer’s value, and then aligning your communications with them delivers results.